Brokerages Set Churchill Downs, Incorporated (NASDAQ:CHDN) PT at $136.50

Shares of Churchill Downs, Incorporated (NASDAQ:CHDN) have been given an average recommendation of “Buy” by the ten research firms that are presently covering the company, MarketBeat reports. Ten equities research analysts have rated the stock with a buy recommendation. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $136.50.

Several brokerages recently issued reports on CHDN. Barclays boosted their price objective on Churchill Downs from $127.00 to $131.00 and gave the company an “overweight” rating in a research report on Friday, July 25th. Macquarie boosted their price objective on Churchill Downs from $150.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, July 28th. Mizuho boosted their price objective on Churchill Downs from $134.00 to $136.00 and gave the company an “outperform” rating in a research report on Tuesday, July 22nd. Truist Financial decreased their price objective on Churchill Downs from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. began coverage on Churchill Downs in a research report on Monday, June 23rd. They issued an “overweight” rating and a $116.00 price objective for the company.

Hedge Funds Weigh In On Churchill Downs

A number of large investors have recently bought and sold shares of the company. London Co. of Virginia boosted its position in Churchill Downs by 38.7% during the 2nd quarter. London Co. of Virginia now owns 2,994,070 shares of the company’s stock worth $302,402,000 after acquiring an additional 835,294 shares during the last quarter. Jennison Associates LLC boosted its position in Churchill Downs by 3.0% during the 1st quarter. Jennison Associates LLC now owns 1,030,846 shares of the company’s stock worth $114,496,000 after acquiring an additional 30,444 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in Churchill Downs by 38.3% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 923,686 shares of the company’s stock worth $93,292,000 after acquiring an additional 256,022 shares during the last quarter. Ameriprise Financial Inc. boosted its position in Churchill Downs by 5.4% during the 2nd quarter. Ameriprise Financial Inc. now owns 793,258 shares of the company’s stock worth $80,119,000 after acquiring an additional 40,645 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in Churchill Downs by 22,974.8% during the 2nd quarter. AQR Capital Management LLC now owns 788,006 shares of the company’s stock worth $79,352,000 after acquiring an additional 784,591 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Price Performance

NASDAQ CHDN opened at $98.28 on Friday. The company has a quick ratio of 0.60, a current ratio of 0.60 and a debt-to-equity ratio of 4.74. The stock has a market capitalization of $6.89 billion, a PE ratio of 16.89, a price-to-earnings-growth ratio of 1.81 and a beta of 0.86. The company has a 50 day moving average price of $102.28 and a two-hundred day moving average price of $101.36. Churchill Downs has a 12-month low of $85.58 and a 12-month high of $150.21.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, July 23rd. The company reported $3.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.03 by $0.07. The firm had revenue of $934.40 million for the quarter, compared to analyst estimates of $924.36 million. Churchill Downs had a return on equity of 41.46% and a net margin of 15.22%.The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $2.89 EPS. As a group, equities analysts predict that Churchill Downs will post 6.92 earnings per share for the current fiscal year.

Churchill Downs Company Profile

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; casino gaming; and Terre Haute Casino Resort.